The Stonegate Mortgage Corp. (SGM) Cut to “Hold” at Zacks Investment Research

The Stonegate Mortgage Corp. (SGM) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Stonegate Mortgage Corp. (NYSE:SGM) from a buy rating to a hold rating in a research note published on Wednesday.

According to Zacks, “Stonegate Mortgage Corporation operates as a non-bank integrated mortgage company focused on originating, financing and servicing Agency and Non-Agency residential mortgage loans. Stonegate Mortgage Corporation is headquartered in the United States. “

Separately, Credit Suisse Group AG reiterated a hold rating and issued a $6.00 target price on shares of Stonegate Mortgage Corp. in a research note on Monday, August 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $6.35.

Stonegate Mortgage Corp. (NYSE:SGM) opened at 4.48 on Wednesday. The firm’s market capitalization is $115.67 million. The company’s 50-day moving average is $4.11 and its 200-day moving average is $4.28. Stonegate Mortgage Corp. has a 52-week low of $3.16 and a 52-week high of $7.64.

Stonegate Mortgage Corp. (NYSE:SGM) last posted its earnings results on Thursday, August 4th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. The firm earned $26.50 million during the quarter, compared to the consensus estimate of $43.10 million. Stonegate Mortgage Corp. had a negative net margin of 67.99% and a negative return on equity of 1.05%. The company’s revenue was down 64.9% on a year-over-year basis. During the same quarter last year, the company earned $0.09 earnings per share. Analysts forecast that Stonegate Mortgage Corp. will post $0.15 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of SGM. Geode Capital Management LLC increased its position in Stonegate Mortgage Corp. by 1.3% in the first quarter. Geode Capital Management LLC now owns 105,371 shares of the company’s stock valued at $604,000 after buying an additional 1,307 shares during the last quarter. State Street Corp increased its position in Stonegate Mortgage Corp. by 1.3% in the first quarter. State Street Corp now owns 154,345 shares of the company’s stock valued at $888,000 after buying an additional 1,972 shares during the last quarter. I.G. Investment Management LTD. increased its position in Stonegate Mortgage Corp. by 3.0% in the second quarter. I.G. Investment Management LTD. now owns 76,261 shares of the company’s stock valued at $256,000 after buying an additional 2,186 shares during the last quarter. Waterstone Capital Management L.P. increased its position in Stonegate Mortgage Corp. by 1.4% in the second quarter. Waterstone Capital Management L.P. now owns 647,425 shares of the company’s stock valued at $2,175,000 after buying an additional 9,034 shares during the last quarter. Finally, Aristotle Capital Boston LLC increased its position in Stonegate Mortgage Corp. by 3.6% in the second quarter. Aristotle Capital Boston LLC now owns 327,051 shares of the company’s stock valued at $1,099,000 after buying an additional 11,314 shares during the last quarter. Hedge funds and other institutional investors own 45.22% of the company’s stock.

Stonegate Mortgage Corp. Company Profile

Stonegate Mortgage Corporation is a non-bank mortgage company. The Company is focused on originating, financing and servicing the United States residential mortgage loans. The Company’s segments include Originations, Servicing, Financing and Other. The Originations segment primarily originates and sells residential mortgage loans, which conform to the underwriting guidelines of the government sponsored enterprises and government agencies, and non-agency whole loan investors.

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